Funded Ventures-backed RIA Terrace Wealth Launches, and more…

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Institutional Investor News

Wilshire Associates reported diverging pension trends: state pensions fell to a 78.6% funded ratio in March, while corporate pensions improved to 103.3% in April due to falling liabilities. San Francisco ERS made $375M in new allocations, including to HPS, KLCP, and Atlas Capital. East Bay MUD hired Brigade Capital, Aristotle Pacific, and Beach Point. Dallas Police & Fire committed to Golub and KKR funds, and Kentucky Pensions considered boosting exposure to Kayne Anderson. Leadership changes include Jim Bethea and Karen Horn Welch.

Wealth Channel News

April RIA activity featured 31 M&A deals totaling $17B, led by Aspen Wealth's $2.9B acquisition and Cerity Partners’ $2.3B AUM gain. Strategic Blueprint and The Retirement Planning Group led in deal count. Raymond James recruited nine advisor teams; LPL partnered with First Horizon on a $16B transition. $1B+ teams moved between RBC, Merrill, UBS, and &Partners. New RIAs launched by Ryan Bowman, Lawrence Dauer, Ty Bernicke, and Anithah Pillai added fresh competition, alongside several senior advisor hires.

Alts Asset Manager News

Grey Rock Investment Partners emphasized its dual strategy across oil, gas, and low-carbon solutions like carbon capture and electrification. Major fundraises included TruArc Partners ($1.04B), Ampere Gestion (€325M), Adams Street (€270M), and Aligned Climate Capital ($240M). New fund launches came from Mill Green, Arbra, ACP, Wyld VC, and VistaOne (Lux), targeting themes like AI, affordable housing, and Shariah-compliant credit. As ESG strategies grow in relevance, these firms continue to evolve portfolios to meet investor and market demands.

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